Our guest blogger is Roman Duty of Recruiting Services International / RSI in Rushville, Indiana. RSI is a boutique executive search firm that is celebrating 50 consecutive years of business in 2020. The firm provides highly individualized recruiting services to clients on a local, regional, and international basis. The firm’s recruiting activities are focused on high-level technical search and managerial placement in many manufacturing arenas.
As recessions go, this is my first time recruiting in one because I began recruiting full time in 2012. There are many of you who have navigated recession-era challenges multiple times and I commend you for it. Even though we are entering into a period of uncertainty due to COVID-19 (the likes of which no living recruiter has experienced), I was still surprised at the number of recruiting firms whose fee agreements did them a disservice even during times of uninterrupted economic growth. Fee agreements with money-back guarantees or large replacement periods (more than 6 months) are incredibly one-sided in favor of the client, don’t allow flexibility, and can hurt cash flow. Read the rest of this entry »
Today’s guest post is courtesy of Wilson Cole from Adams, Evens & Ross, a collection agency specializing exclusively in the recruitment and staffing industry. Back in 2003 Wilson Cole, the President and Founder of Adams, Evens & Ross, was asked to produce a video series detailing the most common credit and collection mistakes that staffing and recruiting firms make when working with their clients. The finished product was a series of short, to-the-point videos called The Seven Deadly Mistakes That Staffing and Recruiting Firms Make And What You Can Do To Avoid Them. In 45 minutes you will learn what are the most common pitfalls that clients make and you will also learn a system that will help reduce your risk and make sure that you get paid in a timely manner. DISCLOSURE: Adams, Evens & Ross is an NPA Alliance Partner. NPA members receive discounted services from AER.
Have you ever had to collect a recruiting fee owed to you by a client? Ever experienced ‘temp-napping’ or a ‘back-door’ hire? Part of your recruiting strategy needs to include protecting yourself from clients who don’t pay the fees you are owed. In this video, part one of a seven-part series, Wilson discusses how including a personal guarantee in your fee agreement can help you avoid the need to resort to collections. Personal guarantees are most effective when your client is a small company that is less than three years old. If you like this video, you’ll find links to the remaining six videos on the Adams, Evens, & Ross YouTube channel.
Well-written fee agreements are an important part of any recruiting strategy. Make sure your agreements ensure you get paid for the work you do!
Please share this blog post with other recruiters you know!